Google: No web browser or web portal planned

In an interview Eric Schmidt, chief executive from Google, declared that Google is not working on becoming a broader internet portal like the ones that Microsoft and Yahoo have. He also said that the rumours that Google is working on its own internet browser are false.

Shares in Google soared a further 15 per cent on Friday, pushing the stock to $172.43, more than double the level achieved at its float two months ago.

Speculation about Google's strategy has intensified as Microsoft has moved closer to launching its own search engine and Yahoo has laid out a plan to integrate search into many of the features on its internet portal.

With the search engine business still at a very early stage of development, Mr Schmidt said there was no need to shape Google's strategy around fending off new competitors.

“It's very possible that Google and Microsoft and Yahoo and others can all do well,” he said. “At this stage, the focus has to be on your customers and your own strategy.”

One widely rumoured defence against Microsoft has been a Google web browser potentially countering the software giant's ability to embed its own search engine into its operating system.